Gen Z Accelerates U.S. Shift from Cards to Digital Wallets, Global Payments Report Finds
Event summary
- Global Payments' 11th annual report shows U.S. still card-dominant (49% online, 71% in-store in 2025) but digital wallets growing rapidly.
- Digital wallet spending in U.S. projected to grow 10% annually through 2030, reaching $4.1 trillion.
- Gen Z leads adoption: 41% of 25-34-year-olds use digital wallets most frequently online.
- APAC shows stark contrast with digital wallets at 77% online and 62% in-store spending in 2025.
- Global Payments completed Worldpay acquisition in January 2026.
The big picture
The report highlights a generational divide in payment preferences, with younger consumers driving digital wallet adoption. This shift presents both opportunity and challenge for payment processors like Global Payments, which must balance serving current card-heavy markets while preparing for a mobile-first future. The $4.1 trillion digital wallet projection by 2030 underscores the scale of this transformation.
What we're watching
- Adoption Pace
- How quickly Gen Z's payment preferences will drive broader U.S. market conversion from cards to digital wallets.
- Regional Disparities
- Whether the U.S. can maintain its card dominance or will follow APAC's mobile-first trajectory.
- Merchant Adaptation
- The speed at which businesses upgrade payment systems to accommodate digital wallet growth.
Related topics